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The bulb which gives off as much light as an incandescent 60 watt bulb, but uses less energy, is the first of its kind to gain approval from Energy Star, says TechCrunch.

Philips says the bulb will last 25 times longer and use 80% less energy than its incandescent cousin.

A company press statement reported that in order to obtain the Energy Star label, its LED bulb had to demonstrate a minimum light output of 800 lumens, a color temperature of 2700K (for soft white light), color rendering index (CRI) of 80 and a minimum three-year warranty; it actually offers 806 lumens, 2700K, a CRI of 80 and a six-year warranty. The bulbs are currently selling at Home Depot for $39.97.

Philips predicts these recyclable bulbs will take over 50% of the residential light bulb market by 2015.